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Media information contact:

Chris Grandis
Media Relations Director
CSC Corporate


Among the Findings, New Opportunities Arise for Lower Income Consumers

FALLS CHURCH, Va., June 12 – The CSC (NYSE: CSC) Leading Edge Forum today released a report that explores how a technological revolution is transforming the financial services industry by empowering consumers to connect with financial institutions and with each other in new ways. This revolution is driving opportunities around the world, most notably for lower income consumers with limited access to services.

The report, titled “Connected Consumer and the Future of Financial Services,” identifies four major technological drivers of change: the rapid uptake of mobile devices, the growth of microfinance, the widespread adoption of new media, and the opportunities from mining both structured and unstructured data. These factors are connecting people to each other on a massive scale, breaking down barriers, bringing financial services to people regardless of income level or location, and providing rich insights about consumer behavior and sentiment:

• Mobile: Mobility is bringing more services to more people with more convenience. Mobile phones, tablets and cards are revolutionizing both payments and financial processes such as insurance claims. Mobile money, notably in Africa, is a driving force behind how financial services are being delivered. As many as two billion people worldwide do not have a bank account but have a mobile phone, making mobile phones the primary financial enabler for a significant portion of the world’s unbanked.

• Micro: Microfinance products, such as those available via smart cards and mobile phones, are playing a lead role in bringing financial services to lower income consumers. The use of cards for example, for insurance and microsavings, allows lower income consumers to have easy access to financial services that were previously not available to them. Overall, micro is about bringing specialized financial products such as loans, insurance, and savings programs to all people.

• Media: New media are transforming how consumers manage their financial worlds and how they transact business. Social media amplifies the voices of consumers, giving them more influence over financial services firms, while peer-to-peer payments and lending over the Internet enable more frictionless transactions that do not require financial services firms to mediate.

• Mining: The explosion in consumer connections is creating unimaginable volumes of data. The challenge is to mine this social data in conjunction with traditional financial data to unlock new insights for developing products and expanding into new markets. Leveraging big data in this way could fundamentally alter our understanding of risk and of financial services itself.

“Even consumers who would have once been considered high-risk are now finding a range of new financial options,” said Patrick Molineux, chief strategy officer of CSC’s Financial Services Group and lead author of the report. “Technology has fueled the evolution of the financial services sector at such a rapid rate, from mobile visa-payments to insurance for rural farmers, we’re seeing possibilities for lower income consumers that would have been unimaginable just 20 years ago.”

“In a highly connected world, consumers across the economic landscape are empowered to not only shape their own fiscal futures but ultimately play powerful roles in revolutionizing financial services. All organizations need to understand these trends and prepare for the potential disruptions and opportunities coming from connected consumers.”

To download the report for free, visit Join the conversation on Twitter handle #fsconsumer and on the CSC blog at View an infographic for the report at

About CSC in Financial Services

More than 1,200 major banking, insurance, investment and wealth management, and securities firms rely on CSC's global financial services team to turn their ambitions into realities. With a track record for delivering software, consulting, and IT and business process outsourcing and services at scale, CSC brings a deep understanding of the financial services business and a collaborative culture to one of the industry’s most engaged client communities. For more information, visit

About CSC

CSC is a global leader in providing technology-enabled business solutions and services. Headquartered in Falls Church, Va., CSC has approximately 98,000 employees and reported revenue of $15.9 billion for the 12 months ended March 30, 2012. For more information, visit the company’s website at

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